Today I'm talking about appraisals!
What is it and how is it used?
When a bank lends someone money for a mortgage, they want to make sure it will be a good investment for them. As a buyer, even if you are approved for a larger amount, the bank still won't lend you the money if they don't think the house is worth enough to cover the mortgage.
Working with an experienced broker can make all the difference when it comes to pricing your home or making an offer on one!
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#AskPete is my new series where every week I'm releasing a video answering your most pressing real estate questions!
If you have a question, just drop it in the comments and I'll cover it in an upcoming episode 👍
